Jeffrey Epstein's 'Paedophile Island' To Be Turned Into Luxury Resort After Selling For $60m

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The Caribbean private island owned by Jeffery Epstein has been sold with the intention of converting it into a luxury hotel.

The former residence of the convicted sex offender, also known as "Paedophile Island," will soon be transformed by a wealthy financier into a 25-room luxury resort.

But as expected, the renowned island only brought close to half of its asking price.

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The 75-acre Caribbean estate was purchased by Epstein for $7.95 million (£5 million) back in 1998.

Off the coast of St. Thomas, it included two islands and included a residence, two guest houses, a pool, and a helipad.

Prosecutors claim that many of Epistein's many offenses, including the trafficking, grooming, and rape of young girls, were committed on the opulent island known officially as Little St. James.

SD Investments

Surprisingly, he would also entertain a lot of famous people at the opulent residence, including apparently Prince Andrew.

Despite this, the island's estimated value was still astonishing, at $45 million (£35.7 million), at the time of Epstein's passing in 2019.

The island was the focus of a lawsuit battle with the Virgin Islands government following his suicide in custody.

Reuters

Even though a settlement was eventually achieved, the Caribbean getaway's value drastically decreased; the island was most recently sold for $60 million (£47.6 million).

The property has a bad reputation and there are many suspicions about it, but the new owner Stephen Deckoff wants to make it into a five-star resort.

Mr. Deckoff, who established the investment company Black Diamond Capital Management, has declared his intention to erect a 25-room hideaway on one of the islands.

Reuters

"I've been proud to call the U.S. Virgin Islands home for more than a decade and am tremendously pleased to be able to bring the area a world-class destination befitting its natural grace and beauty," he revealed to SD Investments.

A team of architects and engineers is currently working on the new resort, which is scheduled to debut in 2025 and includes regional culture.

"There is simply no place in the world as special as the U.S. Virgin Islands and I am humbled by the opportunity to share its splendor with visitors in a manner that will provide economic benefits to the region while respecting its culture, history, and natural beauty,” said Mr Deckoff, adding: “I very much look forward to working with the U.S. Virgin Islands to make this dream a reality."